Selling an app for BTC

[TheTrickmaster]

Hello everyone,

first post here, I need some advice because I'm selling an app and the buyer wants to pay in BTC.
What he asked is to register a BTC wallet on crypto247exchange so he can send me the money via Escrow, because apparently he reached his withdrawal monthly limit, and can only send unlimited BTC to wallets registered on the website. Just to be sure, I'm gonna send him the source code of the app only after receiving the payment.

What I'm asking is:

1) Is this method safe and the site reliable?
2) Can this be part of a scam and if yes, how?
3) After receiving the money, will it be hard to convert my money to fiat on my bank account?
4) What are the withdrawal limits and exchange fees?

I know it's a lot to answer to, so thanks in advance.

[mk4]

I'm going to take my chances and just assume that you're genuinely asking for advice and not posting here to increase the Google searches for whatever exchange that is.

No. It's most definitely a scam.

1. You "register a wallet" on this scam site
2. He "sends" you the bitcoin, but in fact, he only changes a few numbers on the website's database to make it look like you actually have bitcoin
3. You send him the codebase of your app
4. You then realized that you couldn't withdraw the bitcoin because there was no bitcoin to start with

[OmegaStarScream]

The domain was only registered two weeks ago so it's safe to say, that the website is made by him for the sole purpose to scam people.

You shouldn't agree to use any third-party platform. Ask him to send you the funds to your personal wallet (use Electrum) and if escrow is a must, you can reach out to one of these members.

[TheTrickmaster]

Ok, I've found other users on Reddit experiencing the same.
100% scam.

I think I'm gonna troll him a bit from now on lol.

Thanks for the quick answers everyone!

[Harlot]

3) After receiving the money, will it be hard to convert my money to fiat on my bank account?
4) What are the withdrawal limits and exchange fees?

^If we are only talking about Bitcoin payments here and being able to liquidate it after, you wouldn't have any problems with it as long as your country has labeled legal to be traded/own and you have buyers for that Bitcoin or you have 3rd party wallets that can convert it directly to cash then you will have that cash in no time.

1) Is this method safe and the site reliable?
2) Can this be part of a scam and if yes, how?

However on this one where the buyer ask you to sign up on something or they will be the one introducing you to the escrow this will be a common red flag in any scam transaction out there. Bitcoin wallets should be coming from your own choosing as well as an escrow that is trusted or at least neutral to both parties. Them controlling the escrow part or what kind of wallet you have only means a scam will just go down in your transaction.

[moviebuff777]

I don’t know anything about that exchange so I can only say that I personally would prefer to make my own wallet address, either a paper wallet or hardware wallet address so there is no chance that you can be scammed.

[carlfebz2]

Hello everyone,

first post here, I need some advice because I'm selling an app and the buyer wants to pay in BTC.
What he asked is to register a BTC wallet on crypto247exchange so he can send me the money via Escrow, because apparently he reached his withdrawal monthly limit, and can only send unlimited BTC to wallets registered on the website. Just to be sure, I'm gonna send him the source code of the app only after receiving the payment.

What I'm asking is:

1) Is this method safe and the site reliable?
2) Can this be part of a scam and if yes, how?
3) After receiving the money, will it be hard to convert my money to fiat on my bank account?
4) What are the withdrawal limits and exchange fees?

I know it's a lot to answer to, so thanks in advance.

1. No, it isnt
2. Scam 100% because theres no btc at all
3. Site isnt legitimate and you're talking about imaginary on here
4. Only minimal

This had been known as a modus for a while now.Im pretty aware of this one and you should stay away
if you dont like to lose money.

[Quidat]

Dont be fooled out on claims that they do hold and transfer some bitcoin balance on a particular shady and fake platform.These are just excuses for them to scam out people where they do give out reasons
like on you said that they have reached their limit but actually they are lying and trying to fool people.Most noobs will really get hooked specially the amounts they would offer are those too good to be true
where greedy ones will easily believe and fall down to the scam.

[magneto]

Hello everyone,

first post here, I need some advice because I'm selling an app and the buyer wants to pay in BTC.
What he asked is to register a BTC wallet on crypto247exchange so he can send me the money via Escrow, because apparently he reached his withdrawal monthly limit, and can only send unlimited BTC to wallets registered on the website. Just to be sure, I'm gonna send him the source code of the app only after receiving the payment.

What I'm asking is:

1) Is this method safe and the site reliable?
2) Can this be part of a scam and if yes, how?
3) After receiving the money, will it be hard to convert my money to fiat on my bank account?
4) What are the withdrawal limits and exchange fees?

I know it's a lot to answer to, so thanks in advance.

It could be and probably is a part of a scam.

We've seen many instances of this happening before. One person telling the other to withdraw for them on a site (which is owned by the scammer himself), but telling him to send over the BTC first before the withdrawal ever clears. Mostly this scam is done by spoofing exchanges, and disseminated through discord, but it could obviously be applied to a range of scenarios.

Needless to say it's just all part of the ploy, something that you don't want to be involved in, ever.

[voBits]

You can use other medium that are more safe for transactions ok.

https://i.imgur.com/2PW1ZjO.png

you can register for free via https://tradewallet.somidax.net/register . For any issues, kindly email us at support@somidax.net

Hello everyone,

first post here, I need some advice because I'm selling an app and the buyer wants to pay in BTC.
What he asked is to register a BTC wallet on crypto247exchange so he can send me the money via Escrow, because apparently he reached his withdrawal monthly limit, and can only send unlimited BTC to wallets registered on the website. Just to be sure, I'm gonna send him the source code of the app only after receiving the payment.

What I'm asking is:

1) Is this method safe and the site reliable?
2) Can this be part of a scam and if yes, how?
3) After receiving the money, will it be hard to convert my money to fiat on my bank account?
4) What are the withdrawal limits and exchange fees?

I know it's a lot to answer to, so thanks in advance.

[Ucy]

The exchange is probably fake(I am not sure yet). Looks like it was registered few days ago according discussion here: https://www.reddit.com/r/Bitcoin/comments/ev5c2v/buyer_wants_to_purchase_my_small_ecommerce/. I will advise you to use this forum escrow service or look for reputable exchanges with  escrow service.

[sheenshane]

Tend to agree with the reply above, use the forum escrow service I can guarantee that they are 100% legit because they care about their reputation here in the forum and besides that, they already held hundreds and thousands of dollars as past transactions. If you are interested to use their service heads up on this link, Few Trusted Escrow Provider together with their ANN thread.

This case was similar to this scenario, scam exchange.
CryptonFix.com SCAM!!!
{Warning}: Razebit Crypto exchange is a scam

I may suggest that be vigilant on every people that you are dealing with on the internet unless if they already build a good reputation. Scammers are getting smarter and very intelligent nowadays, so be careful.

[davinchi]

The exchange is probably fake(I am not sure yet). Looks like it was registered few days ago according discussion here: https://www.reddit.com/r/Bitcoin/comments/ev5c2v/buyer_wants_to_purchase_my_small_ecommerce/. I will advise you to use this forum escrow service or look for reputable exchanges with  escrow service.

If the exchange was been created few days/weeks or even few months ago than there is no doubt that it is a fake exchange. There would be no options to withdraw funds from such exchange.

Moreover, the individual who is asking to pay via this exchange might credit you some amount of bitcoins onto your account on the same exchange as crediting bitcoins(probably just number and not actual bitcoin) is much easier on these fake platforms and the developers just needs to adjust with the code of the website in order to show you a specific number of bitcoins but once you receive those bitcoins, you would never be able to withdraw them because they would never exist.

[FanEagle]

Do you know how easily any individual can create a false exchange? There already are a number of scam exchanges been circulating into the markets and this might just be among one of them. I won't even search for the exchange because by reading some replies above I can predict that it is nothing more than a scammy exchange. You should never allow such trades to happen with you. You can lose your application as the user might send fake bitcoins onto the exchange.

Even there are some testnet exchanges which are hard to understand by newbies and most of the scammers might take benefits of this and send you test bitcoins which would have no value in the real world. Ask him to choose a reliable exchange or wallet and never forget to involve escrow to be more secure in the deal.